PH Refinery Has Not Commenced Bulk Sales – NNPC

The Port Harcourt Refining Company (PHRC) has not yet commenced bulk sales or opened its purchase portal, as essential processes are still being finalised.

The Nigerian National Petroleum Company Limited (NNPC Ltd.) says an official announcement will be made if and when price reviews on the products occur. Chief Corporate Communications Officer, NNPC Ltd., Mr Olufemi Soneye, in a statement on Friday, said currently its products being sold originated from the Dangote Refinery.

The 60,000 barrels per day (bpd) capacity refinery began truck-out of petroleum products on Tuesday in Port Harcourt following its rehabilitation. Some petroleum marketers and Nigerians have raised operational concerns about the refinery as regards pricing.

The Petroleum Products Retail Outlet Owners Association of Nigeria (PETROAN) also confirmed that the refinery had not released any new price for product purchases. The association said that it bought PMS with the old pricing template while awaiting the new prices.

“Currently, the products we are selling originate from the Dangote refinery and include applicable Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) fees,” he said.

“Products from PHRC are exclusively for our retail stores at this stage. Our pricing is reviewed and adjusted periodically as necessary to reflect operational realities.

“We advise the public to disregard any misleading information regarding pricing. Official announcements will be made if and when price reviews occur.”

Source:- Vanguardngr